Coalition advocates wrote to the House of Representatives asking them to oppose H.R. 2213. The bill suspends homebuyer rights by absolving lenders from accountability for five months after new mortgage disclosure rules take effect this summer, and lets lenders off the hook even when a homeowner has been harmed. This means that homeowners who receive misleading mortgage cost disclosures during that period would have no recourse. Moreover, the legislation sets a dangerous precedent by suspending liability where legal rules apply.

Introduced by Reps. Steve Pearce (R-NM) and Brad Sherman (D-CA), H.R. 2213 would provide lenders with a temporary safe harbor from enforcement of the Integrated Disclosure Rule. Consumer Action joined housing coalition advocates in opposing the unnecessary legislation that would hinder homeowners on the rare occasion that they seek legal recourse against a lender. This legisaltion would remove lenders' key incentives to complying with new mortgage disclosure rules and leave consumers without the ability to protect themselves.